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Claros Mortgage Trust
(NYSE:CMTG)
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Rating:41Neutral
Price Target:
$1.00
▼(-38.27% Downside)
Action:Reiterated
Date:10/23/26
The score is weighed down primarily by deteriorated financial performance (large losses, negative margins, and recent cash burn) and a bearish technical setup (below key moving averages with negative MACD). Valuation is difficult to justify with a negative P/E, while the latest corporate update highlights significant credit provisioning and losses despite some progress in loan resolutions, liquidity, and deleveraging.
Positive Factors
Deleveraging and liquidity improvement
Debt reduction and stronger liquidity improve CMTG’s capacity to manage maturities, fund operations, and absorb further credit events. If sustained, this balance-sheet repair can reduce financing pressure and create greater flexibility for future capital allocation.
Negative Factors
Severe and persistent losses
Large recurring losses weaken retained capital and reduce the resources available to support lending, deleveraging, or shareholder distributions. The scale of the latest loss indicates that credit and real-estate charges continue to overwhelm recurring portfolio income.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging and liquidity improvement
Debt reduction and stronger liquidity improve CMTG’s capacity to manage maturities, fund operations, and absorb further credit events. If sustained, this balance-sheet repair can reduce financing pressure and create greater flexibility for future capital allocation.
Read all positive factors
Claros Mortgage Trust Key Performance Indicators (KPIs)
Any
Distributable Earnings by Segment
Measures how much cash each business segment generates that can be paid out as dividends or reinvested, highlighting which parts of the business produce steady, coverable income and which depend on volatile credit or rate conditions. For Claros Mortgage Trust, segment-level distributable earnings point to dividend sustainability, concentration risks, and sensitivity to funding costs and loan performance — helping investors see which segments drive growth and which could pressure payouts if markets or credit quality deteriorate.
Measures how much cash each business segment generates that can be paid out as dividends or reinvested, highlighting which parts of the business produce steady, coverable income and which depend on volatile credit or rate conditions. For Claros Mortgage Trust, segment-level distributable earnings point to dividend sustainability, concentration risks, and sensitivity to funding costs and loan performance — helping investors see which segments drive growth and which could pressure payouts if markets or credit quality deteriorate.
Data provided by:
The Fly
The FlyClaros Mortgage Trust (CMTG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$170.71M
Dividend Yield11.35%
Average Volume (3M)866.07K
Price to Earnings (P/E)―
Beta (1Y)0.99
Revenue Growth79.83%
EPS Growth-27.98%
CountryUS
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-3.83
Shares Outstanding141,084,210
10 Day Avg. Volume728,486
30 Day Avg. Volume866,072
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.28
Price to Sales (P/S)1.00
P/FCF Ratio-12.96
Enterprise Value/Market Cap16.38
Enterprise Value/Revenue11.74
Enterprise Value/Gross Profit-12.20
Enterprise Value/Ebitda-5.58
Forecast
1Y Price Target
$1.75Price Target Upside8.02% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)-1.75
Revenue Forecast (FY)$111.43M
Claros Mortgage Trust Business Overview & Revenue Model
Company Description
Claros Mortgage Trust, Inc. functions as a real estate investment trust (REIT), primarily focusing on originating both senior and junior debt for commercial properties in transitional stages, located within prominent markets throughout the United ...
How the Company Makes Money
CMTG primarily makes money by earning interest income and related fees from its commercial real estate loan investments. Its core revenue stream is net interest income: the interest collected on its loan portfolio (often structured with floating r...
Claros Mortgage Trust Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Neutral
The call conveyed balanced progress: management highlighted tangible execution — $609M of loan resolutions, meaningful deleveraging, improved covenants via a new $500M facility, and sizable reductions in watch list counts and sector concentrations — all of which position the company to improve earnings capacity over time. Offsetting this progress are continuing challenges: Q1 GAAP and distributable losses, a large non-accrual book (~$1.55B, ~44% of the portfolio), modest liquidity ($132M), and CECL reserve dynamics tied to recent transactions. In aggregate, the company demonstrated strong operational progress and strategic execution but still faces material credit and liquidity headwinds that keep near-term outcomes uncertain.Positive Updates
Material Loan Resolutions and Portfolio Turnover
Completed $609M of loan resolutions in Q1 2026 (5 loans, 4 were watch list), including a $220M luxury hotel loan sale and multiple foreclosures/repayments — driving held-for-investment loans down to $3.2B from $3.7B at 12/31/25 (a 13.5% decrease). Management has 8 active sale processes representing ~ $861M of UPB/REO value to further accelerate turnover.
Negative Updates
Reported GAAP and Distributable Losses
GAAP net loss of $0.39 per share and a distributable loss of $0.52 per share for Q1 2026, reflecting realized losses and credit provisions that weighed on reported earnings.
Read all updates
Q1-2026 Updates
Positive
Negative
Material Loan Resolutions and Portfolio Turnover
Completed $609M of loan resolutions in Q1 2026 (5 loans, 4 were watch list), including a $220M luxury hotel loan sale and multiple foreclosures/repayments — driving held-for-investment loans down to $3.2B from $3.7B at 12/31/25 (a 13.5% decrease). Management has 8 active sale processes representing ~ $861M of UPB/REO value to further accelerate turnover.
Read all positive updates
Company Guidance
Management reiterated guidance to continue prioritizing turning over the portfolio, resolving watch‑list loans, repositioning REO and deleveraging the balance sheet with the goal of being positioned to make capital allocation decisions (new originations, additional deleveraging, selective REO reinvestment or share repurchases) toward year‑end. In Q1 they completed ~$609M of loan resolutions (5 loans, 4 on the watch list — $174M, $67M, $77M, $71M and a $220M hotel loan sold at 90% of par; plus a $25M multifamily foreclosure subsequent to quarter end), reducing held‑for‑investment loans to $3.2B (from $3.7B), hospitality exposure to $592M (from $807M) and land to $120M (from $187M). They have 8 active sale processes covering roughly $860–$861M of UPB/REO, watch‑list balances have fallen from $2.7B to $1.4B, 4/5‑rated loans total 13 (down from 24 YoY), and non‑accruals remain $1.55B on 11 loans (~44% of the portfolio). Financially, they replaced Term Loan B with a $500M HPS facility (4‑year term to Jan‑2030) at SOFR+675bps, reduced outstanding financings by $489M (including $142M of deleveraging payments), lowered net debt‑to‑equity to 1.7x (from 1.9x at 12/31/25 and 2.4x a year ago), ended Q1 with $132M liquidity, reported GAAP net loss of $0.39/share and distributable loss of $0.52/share (distributable loss prior to realized losses $0.05/share), and carried total CECL reserves of $399M (11.4% of UPB) with a general CECL reserve of $50M (≈2.3% of UPB).Claros Mortgage Trust Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
34
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 238.15M | 430.48M | 170.67M | 129.83M | 270.20M | 215.02M |
| Gross Profit | -229.12M | -374.20M | -48.81M | 80.33M | 270.20M | 215.02M |
| EBITDA | -501.04M | -477.11M | -188.95M | 185.65M | 120.20M | 177.50M |
| Net Income | -538.46M | -489.07M | -221.26M | 6.03M | 112.06M | 170.55M |
Balance Sheet | ||||||
| Total Assets | 3.84B | 4.72B | 6.97B | 8.07B | 8.24B | 7.46B |
| Cash, Cash Equivalents and Short-Term Investments | 90.33M | 173.19M | 99.08M | 188.20M | 306.46M | 310.19M |
| Total Debt | 2.57B | 3.15B | 4.89B | 5.56B | 5.40B | 4.57B |
| Total Liabilities | 2.60B | 3.19B | 4.96B | 5.77B | 5.79B | 4.85B |
| Stockholders Equity | 1.24B | 1.53B | 2.01B | 2.30B | 2.46B | 2.57B |
Cash Flow | ||||||
| Free Cash Flow | -14.66M | -33.18M | 83.17M | 109.05M | 108.69M | 202.09M |
| Operating Cash Flow | -7.40M | -30.46M | 84.52M | 111.14M | 111.03M | 213.56M |
| Investing Cash Flow | 1.30B | 1.87B | 779.91M | -39.34M | -773.30M | -373.20M |
| Financing Cash Flow | -1.41B | -1.78B | -945.82M | -205.07M | 676.30M | 62.80M |
Claros Mortgage Trust Technical Analysis
Neutral
1.62
Price Trends
1.42
Negative
1.83
Negative
2.17
Negative
Market Momentum
-0.07
Negative
43.87
Neutral
57.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMTG, the sentiment is Neutral. The current price of 1.62 is above the 20-day moving average (MA) of 1.20, above the 50-day MA of 1.42, and below the 200-day MA of 2.17, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 43.87 is Neutral, neither overbought nor oversold. The STOCH value of 57.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CMTG.
Claros Mortgage Trust Risk Analysis
Claros Mortgage Trust disclosed 95 risk factors in its most recent earnings report. Claros Mortgage Trust reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Claros Mortgage Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
55 Neutral | $482.11M | 11.37 | 5.45% | 15.29% | 3.78% | -15.19% | |
51 Neutral | $339.90M | -1.76 | -16.70% | 12.15% | -19.57% | -397.76% | |
50 Neutral | $463.08M | -15.76 | -2.91% | 17.49% | -0.14% | -10.71% | |
48 Neutral | $185.86M | -44.49 | -0.88% | 17.91% | 28.95% | 76.08% | |
48 Neutral | $1.79B | 132.50 | 0.45% | 17.74% | -3.93% | ― | |
41 Neutral | $170.71M | -0.32 | -35.83% | 11.35% | 79.83% | -27.98% |
* Real Estate Sector Average
CMTG
Claros Mortgage Trust
1.21
-2.30
-65.53%
ACRE
Ares Commercial
3.35
-0.70
-17.35%
BXMT
Blackstone Mortgage
10.60
-5.76
-35.22%
KREF
Kkr Real Estate Finance
5.76
-2.14
-27.11%
TRTX
Tpg Re Finance
6.28
-1.58
-20.13%
BRSP
BrightSpire Capital
3.66
-1.03
-21.99%
Claros Mortgage Trust Corporate Events
Business Operations and StrategyFinancial Disclosures
Claros Mortgage Trust Reports Large Quarterly Net Loss
Negative
Jul 29, 2026
On July 29, 2026, Claros Mortgage Trust reported a GAAP net loss of $255.4 million, or $1.81 per share, for the quarter ended June 30, 2026, alongside a non-GAAP Distributable Loss of $90.8 million, or $0.63 per share. Results were heavily affecte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.